What does the Law on the Regulation of the Electricity Market 2003 (no. 122(I)/2003) cover?

The Law on the Regulation of the Electricity Market 2003 (Law no. 122(I)/2003 - hereinafter “the Law”), lays down the applicable legal framework for the regulation of the Electricity Market in Cyprus. The legislation has recently undergone reform via the amending law no. 211(I)/2012 resulting to certain modifications, especially on the front of enhanced consumer protection and striking a fair balance for the vulnerable fractions of society.

The Law establishes the Cyprus Energy Regulatory Authority (“C.E.R.A.”) as the supervisory body for the smooth implementation of the Law and the regulation of the market. The Law also provides for the creation of a Transmission System Operator (TSO), the introduction of obligations of public utility, it shall regulate matters relevant to the protection of consumers and must ensure the production of sufficient energy for the satisfaction of all reasonable needs for electricity while safeguarding the stability and security of the system. This Law harmonizes local legislation with EU Directive 96/92/EC.

Published in Energy
GREEK LAW DIGEST Web Portal of the Republic of Cyprus CYPRUS INVEST PROMOTION AGENCY
ΝΟΜΙΚΗ ΒΙΒΛΙΟΘΗΚΗ ΚΥΠΡΙΑΚΟ ΕΜΠΟΡΙΚΟ ΚΑΙ ΒΙΟΜΗΧΑΝΙΚΟ ΕΠΙΜΕΛΗΤΗΡΙΟ CYPRUS BAR ASSOCIATION
     

 

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